US equities open significantly higher, on lower than expected inflation data. The gains are shaky though, with reversal candles all over the place. The Dow and Transports have already turned red! WTIC $67.53.
sp’60min
VIX’60min
Summary
Headline y/y: 2.8% vs 3.0% prior
Core y/y: 3.1% vs 3.3% prior
… better than expected, with renewed hopes that rates will be cut a fourth time by mid year.
Is 5528 a key s/t low? I’m guessing no, and with the Dow & Trans already turning red, why wouldn’t the SPX follow?
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notable stock: INTC
Taiwan Semicon’ proposing a joint venture with Nvidia, AMD, and Broadcom to operate Intel factories.
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notable semicon: NVDA
Powering upward.
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notable car: TSLA
As his highness is touting he’ll double (US based) production within two years.
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notable miner: FCX
Freeport higher with the main market, and further helped by copper $4.90. A break/hold >$5.00 would argue against a grander equity bearish outlook.